Chicken Wings for $34? Pent-Up Inflation Will Drive US Food Costs Even Higher

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
106,312
60,145
1
America under the Biden administration....... lmfao.....

https://finance.yahoo.com/news/chicken-wings-34-pent-inflation-140006054.html

(Bloomberg) -- With a gallon of milk up about 25% since before the pandemic, and retail bacon 35% higher, it’s hard to imagine how US food inflation could get any worse. But evidence suggests that even higher prices are on the horizon.

Consumers have actually been shielded so far from the full brunt of soaring expenses that are facing producers, distributors and small businesses like restaurants. But they can only hold back for so much longer.

Take the case of Jeff Good, who co-founded three restaurants in Jackson, Mississippi. Around 18 months ago, a 40-pound box of chicken wings cost him about $85. Now, it can go as high as roughly $150. Expenses for cooking oil and flour have nearly doubled in the past five months, he said. But it’s not just ingredient prices going up. He’s paying more for labor and services, too. Even the company that maintains his air conditioners has tacked on a $40 fuel charge per visit. To cope, he’s raised menu prices.

A 15-piece order of chicken wings, a signature dish at his Sal and Mookie’s pizzeria, went for $13.95 before Covid hit. Now, wing costs can vary so much they’re labeled at “market price,” like some restaurants do with lobster. At peaks, the menu price can be be about $27.95 — but that represents a barely-there margin — and Good estimates the “real cost” is closer to about $34. He's trying to decide whether to keep raising prices or take wings off the menu.
 

LionDeNittany

Well-Known Member
May 29, 2001
45,873
20,642
1
DFW, TX
America under the Biden administration....... lmfao.....

https://finance.yahoo.com/news/chicken-wings-34-pent-inflation-140006054.html

(Bloomberg) -- With a gallon of milk up about 25% since before the pandemic, and retail bacon 35% higher, it’s hard to imagine how US food inflation could get any worse. But evidence suggests that even higher prices are on the horizon.

Consumers have actually been shielded so far from the full brunt of soaring expenses that are facing producers, distributors and small businesses like restaurants. But they can only hold back for so much longer.


Take the case of Jeff Good, who co-founded three restaurants in Jackson, Mississippi. Around 18 months ago, a 40-pound box of chicken wings cost him about $85. Now, it can go as high as roughly $150. Expenses for cooking oil and flour have nearly doubled in the past five months, he said. But it’s not just ingredient prices going up. He’s paying more for labor and services, too. Even the company that maintains his air conditioners has tacked on a $40 fuel charge per visit. To cope, he’s raised menu prices.

A 15-piece order of chicken wings, a signature dish at his Sal and Mookie’s pizzeria, went for $13.95 before Covid hit. Now, wing costs can vary so much they’re labeled at “market price,” like some restaurants do with lobster. At peaks, the menu price can be be about $27.95 — but that represents a barely-there margin — and Good estimates the “real cost” is closer to about $34. He's trying to decide whether to keep raising prices or take wings off the menu.

I read this story earlier today.

It's kind of funny because all of this happened 6 months ago but suddenly its news.

LdN
 
  • Like
Reactions: bourbon n blues

bourbon n blues

Well-Known Member
Nov 20, 2019
21,712
25,240
1
I read this story earlier today.

It's kind of funny because all of this happened 6 months ago but suddenly its news.

LdN
My wife and I barely eat out. Months ago I posted about perceived value vs market value.
I ain’t paying 35$ for chicken wings. I’m not spending $130 on a bar bill for a basic meal and three drinks a piece.
Welcome to the thunder dome people.
 

WPTLION

Well-Known Member
Jan 7, 2002
3,082
3,019
1
Ok i need to chime in since i sell the stuff. I didnt read the article just what was posted. If that is current info its all wrong. 40# wings i sell at 83 today...6 months ago they were 150, last year at this time they were 130. They are the only food service item that o sell that is less today then a year ago.
But heres the twist 40# chicken breasts were $80 6 months ago and are now $160. It makes absolute zero sense why the wings are so cheap. Ive told l my customers to keep the price up for now, this wont last forever...but that was 2 months ago.

But here's another part of when you order wings they are so expensive...fry oil is more the 2x what it was 18 months ago and sauces have all gone up 30 to 40%
 

WPTLION

Well-Known Member
Jan 7, 2002
3,082
3,019
1
Ok i need to chime in since i sell the stuff. I didnt read the article just what was posted. If that is current info its all wrong. 40# wings i sell at 83 today...6 months ago they were 150, last year at this time they were 130. They are the only food service item that o sell that is less today then a year ago.
But heres the twist 40# chicken breasts were $80 6 months ago and are now $160. It makes absolute zero sense why the wings are so cheap. Ive told l my customers to keep the price up for now, this wont last forever...but that was 2 months ago.

But here's another part of when you order wings they are so expensive...fry oil is more the 2x what it was 18 months ago and sauces have all gone up 30 to 40%
One more thing...i read the article all the other increases they claim are 100% correct. The only one that is really skewed is the eggs....thats happened in the last 3 months because of the bird flu...theyve stablized and dropped a bit but not much.
 
  • Like
Reactions: bourbon n blues